Media and Tech Stocks Slide Amid Fears of Coronavirus Resurgence
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variety.comTodd Spangler NY Digital EditorU.S. stocks dropped Monday as Wall Street reacted to the prospect that a second wave of COVID-19 outbreaks could hinder a global economic recovery.The Dow Jones Industrial Average dropped more than 2.7% shortly after the opening bell, while the S&P 500 dropped 2.3%.The declines come after a dozen U.S.
states (including Arizona, Arkansas, Florida and Texas) reported increases coronavirus infections over the past week. Chinese authorities locked down parts of Beijing after an eruption of new COVID-19 cases over the weekend.Most media and tech stocks were pulled down in the eddy of negative sentiment spreading on Wall Street — with the exception of Netflix, whose shares inched up (less than 0.5%) early in the.
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